Ibokin Co Ltd

Ibokin maintains a strong liquidity position with JPY 1.73 billion in cash and equivalents, representing 29.9% of total assets, and a current ratio of 2.36, indicating a solid ability to meet short-term obligations. The company's debt-to-equity ratio of 0.07 suggests a conservative capital structure with minimal leverage, and long-term debt accounts for only 4.9% of total liabilities.

Profitability metrics show a return on equity (ROE) of 3.09% and a return on assets (ROA) of 2.18%, both below the industry median for Environmental Services & Equipment firms, which typically report ROE and ROA of 5.2% and 3.8%, respectively. Gross margin of 17.8% and operating margin of 7.6% are in line with industry norms, but net margin of 5.2% is slightly below the median of 6.1%.

The company's revenue is concentrated in a single disclosed segment, with no geographic breakdown provided in the latest financials. This lack of diversification may expose the company to regional economic or regulatory risks, though no specific geographic concentration is quantified in the available data.

Ibokin's revenue growth trajectory is not explicitly outlined in the latest filings, but the company's operating income of JPY 186.7 million and net income of JPY 126.1 million suggest stable performance. Analyst estimates for the most recent period indicate a revenue of JPY 10.01 billion, which is significantly lower than the reported JPY 2.44 billion, suggesting a potential discrepancy or a non-GAAP reporting period.

Risk factors for Ibokin include low liquidity and dilution risk, with no immediate filing-based flags detected. The company's low debt load and strong cash position mitigate credit risk, but its ROE and ROA remain below industry medians, which could signal operational inefficiencies or pricing pressures.

Recent events include the filing of the latest financial snapshot, which provides a comprehensive view of the company's capital structure and profitability. No recent earnings call transcripts or 10-K filings are available in the provided data, limiting insight into management commentary or strategic direction.

Revenue grew 4.4% annually over four years, demonstrating consistent top-line expansion in the environmental services sector.

Debt-to-equity ratio of 0.07 is in the top quartile for leverage safety, minimizing financial risk compared to peers.

Long-term debt surged to 1.51 billion yen in FY2026, a massive increase from 245 million yen the prior year.

Gross profit decreased to 1.79 billion yen in FY2026 from 1.85 billion yen previously, suggesting margin compression.

Net income growth of 4.1% CAGR lags behind the 4.4% revenue CAGR, highlighting inefficiency in translating sales to profit.

Revenue ¥2.71B, +11,4% YoY; Operating income −2,1% YoY.

• ▍Revenue ¥2.71B, +11,4% YoY
• ▍Operating income −2,1% YoY
• ▍Net income +48,1% YoY
• ▍Net margin 6.2%

Revenue ¥2.67B, +19,4% YoY; Operating income +94,1% YoY.

• ▍Revenue ¥2.67B, +19,4% YoY
• ▍Operating income +94,1% YoY
• ▍Net income +118,8% YoY
• ▍Net margin 9.4%

Revenue ¥2.15B, −15,3% YoY; Operating income −144,0% YoY.

• ▍Revenue ¥2.15B, −15,3% YoY
• ▍Operating income −144,0% YoY
• ▍Net income −148,2% YoY
• ▍Net margin -3.7%

Revenue ¥2.47B, +1,0% YoY; Operating income +89,8% YoY.

• ▍Revenue ¥2.47B, +1,0% YoY
• ▍Operating income +89,8% YoY
• ▍Net income +105,4% YoY
• ▍Net margin 10.5%

Revenue ¥2.43B; Operating income ¥192.6M.

• ▍Revenue ¥2.43B
• ▍Operating income ¥192.6M
• ▍Net margin 4.7%

Revenue ¥2.24B; Operating income ¥172.8M.

• ▍Revenue ¥2.24B
• ▍Operating income ¥172.8M
• ▍Net margin 5.1%

Revenue ¥2.54B; Operating income ¥243.4M.

• ▍Revenue ¥2.54B
• ▍Operating income ¥243.4M
• ▍Net margin 6.5%

Revenue ¥2.44B; Operating income ¥186.7M.

• ▍Revenue ¥2.44B
• ▍Operating income ¥186.7M
• ▍Net margin 5.2%

Revenue ¥10.01B, +3,6% YoY; Operating income −3,0% YoY.

• ▍Revenue ¥10.01B, +3,6% YoY
• ▍Operating income −3,0% YoY
• ▍Net income +15,0% YoY
• ▍Free cash flow −220,7% YoY
• ▍Net margin 6.0%

Revenue ¥9.66B, +11,5% YoY; Operating income +36,6% YoY.

• ▍Revenue ¥9.66B, +11,5% YoY
• ▍Operating income +36,6% YoY
• ▍Net income +31,3% YoY
• ▍Free cash flow +1 232,2% YoY
• ▍Net margin 5.4%

Revenue ¥8.66B, +8,8% YoY; Operating income +20,0% YoY.

• ▍Revenue ¥8.66B, +8,8% YoY
• ▍Operating income +20,0% YoY
• ▍Net income +14,4% YoY
• ▍Free cash flow −88,0% YoY
• ▍Net margin 4.6%

Revenue ¥7.96B, −5,6% YoY; Operating income −37,3% YoY.

• ▍Revenue ¥7.96B, −5,6% YoY
• ▍Operating income −37,3% YoY
• ▍Net income −32,0% YoY
• ▍Free cash flow −44,0% YoY
• ▍Net margin 4.4%